Trading range of the day 1.2046-1.2110

03.03.2021

Daily chart: the euro bounced up from the lower Bollinger band (1.2001), which puts the pair into a new upward phase in the direction of the resistance zone 1.2199-1.2241. Both ADX and Bollinger Bands are in a flat zone.

Н4: local growth of the euro quotes is still limited by the resistance 1.2145-1.2160 on the upper Bollinger band. The probability of a higher breakout is low, which allows us to consider selling from this zone to 1.2070.

Н1: on the hourly chart, the potential volatility of the pair is limited by a range of 65 points: support at 1.2046 (lower Bollinger band), resistance at 1.2110 (upper Bollinger band). ADX is falling, which indicates a low probability of impulse movements.

Conclusions: flat in the range 1.2046-1.2110.
Trading solutions:
1. Purchases from 1.2-046 to 1.2110.
2. Sales from 1.2110 to 1.2046.